moon333

ICX a big parabolic move expected

Long
BINANCE:ICXUSDT   ICON / TetherUS
Hey friends, hope you are well and welcome to the new update on ICX coin.

Previously I shared two ideas of ICX with you, one was a formation of Cypher pattern in USD marker and the other was the formation of bullish Shark pattern in the Bitcoin market.

The price action of Icon coin turned bullish in USD market and produced more than 100% profit rally sofar. In the meanwhile, it has also completed the final leg of bullish Shark in the Bitcoin market.



ICX with USD pair Cypher move:




ICX with BTC pair move:



An up channel formation and EMAs:

On the long-term weekly chart, in US dollar market the price action of ICX coin has formed an up channel and also using exponential moving averages with the time period of 10 and 21 as support. This time the EMAs 10 and 21 have just formed a bull cross and the priceline is turned bullish .




Different support and resistance levels:

On the long term weekly chart, the priceline of ICX has broken out the $0.46 and $0.55 resistance levels and trying to break out the key level resistance of $0.65. If the $0.65 resistance level will be broken out then there is no significant resistance that can be found up to $2.39 as per the Binance exchange. Therefore it is possible that once the price action will break out the $0.65 then it will also break out the resistance of an up-channel that has been formed on the weekly chart.




Alligator mouth and a parabolic move:

On the long-term weekly chart, the simple moving averages with the time period of 25, 50, and 100 have formed an opened alligator’s mouth and lifting the price action to the upside. This move is turning parabolic now.




Similar parabolic move expected like XLM:
The same parabolic move can be seen in the XLM chart as well, therefore we can expect that now the price action of ICX will turn more strong parabolic bullish like XLM to lead the altcoins bull run.



Conclusion:

As the price action of Icon coin has already turned bullish in the USD market but it can turn more bullish as it has just completed a big bullish Shark move in the Bitcoin market.






Comments

so parabolic means, it has the potential to push to ATH in short time?
+1 Reply
Your analysis was correct. Well done.
Reply
Looks good. thanks
Reply
Really good analysis. Thank you.
Reply
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